Current Index Level - 28204
Bear is gripping BN, if from here reversal can be confirm only if the index level sustain above 28900.
This week most likely it will be in sideways and if any negative news comes up it will head to 27250 and next 26000.
RBI rate cut is expected as 25 bps if above that its good for us to reach and sustain 28900.
Now Now for trade - we need to trade cautiously on Monday as Cabinet meeting is scheduled at 9:30 AM.
and on 07-Aug-19 RBI Policy will inflow with some negativity.
Suggestion - Avoid trade with news coming up, wait for the confirm shot.
Risky trader can short on every bounce of 150 point then wait for 25-50 points downwards for confirmation with strict stoploss of +60 points.
Overall : Bearish till the further sign.
Bear is gripping BN, if from here reversal can be confirm only if the index level sustain above 28900.
This week most likely it will be in sideways and if any negative news comes up it will head to 27250 and next 26000.
RBI rate cut is expected as 25 bps if above that its good for us to reach and sustain 28900.
Now Now for trade - we need to trade cautiously on Monday as Cabinet meeting is scheduled at 9:30 AM.
and on 07-Aug-19 RBI Policy will inflow with some negativity.
Suggestion - Avoid trade with news coming up, wait for the confirm shot.
Risky trader can short on every bounce of 150 point then wait for 25-50 points downwards for confirmation with strict stoploss of +60 points.
Overall : Bearish till the further sign.